Sabah receives RM8.49 bln investments in manufacturing sector in 2022 - Tun Juhar - MIDA | Malaysian Investment Development Authority
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Sabah receives RM8.49 bln investments in manufacturing sector in 2022 – Tun Juhar

Sabah receives RM8.49 bln investments in manufacturing sector in 2022 – Tun Juhar

22 May 2023

The manufacturing sector in Sabah expanded on a positive trend after it succeeded in receiving investments of RM8.49 billion last year, said Sabah Yang Dipertua Negeri Tun Juhar Mahiruddin.

He said the the amount obtained last year was an increase of almost 90 per cent compared with RM4.48 billion investments the state received in the preceding year.

“Appreciation and congratulations should be given to the state government led by (Chief Minister) Datuk Seri Hajiji Noor on the hard work and initiative to attract investors to this state. It is hoped that the state’s economy will continue to grow rapidly for the benefits and wellbeing of the people,” he said.

He said this when delivering a speech on government policy in conjunction with the opening of the fourth term of the 16th State Legislative Assembly (DUN) here, today, which was also attended by Hajiji and Sabah DUN opposition leader Datuk Seri Mohd Shafie Apdal.

Tun Juhar said for the flagship project under the Sabah Maju Jaya (SMJ) development plan, the construction of SK Nexilis Malaysia Sdn Bhd’s copper foil factory involving an investment of RM2.3 billion at the Kota Kinabalu Industrial Park (KKIP) is at 72.3 per cent.

The construction of solar glass manufacturing facility at KKIP and silica sand processing plant in Sikuati, Kudat by SBH Kibing Solar New Materials (M) Sdn Bhd are at 27 per cent and 35 per cent respectively. These factories are expected to be operational in the fourth quarter of 2023.

“The performance and achievements of these projects have shown that the strategies implemented by the state government to draw high-impact investments have made positive impacts on the growth of economic sectors particularly the manufacturing sector in Sabah,” he said.

He said the main development focus of the state government is to implement various programmes and high-impact industrial projects, with emphasis on efforts to boost high value downstream activities in order to create more job opportunities and business.

Meanwhile, Tun Juhar said the state government received dividends totalling RM152 million from state government-linked companies (GLCs) last year, up about 30 per cent from RM116.35 million in 2021.

“I am confident this figure would increase further based on current potentials. I urge all members of the board of directors and management of GLCs to multiply their efforts, uphold integrity and be trustworthy, and implement good corporate governance in running the companies,” he said.

He added that the state government would continue to ensure additional equity investments in potential sectors through public agencies which would give high returns in form of dividends and contribution to the state government.

Source: Bernama